Budget Performance: Report Genie in a Bottle Company (GBC) manufectures plastic two-liter botties for the beverage industry. The cost standards per too two-liter botvles are as follaws: At the beginning of July, GBC management planned to produce 400,000 botties, The actual number of botties produced for 3 uly was s06, 000 botties. Thet actual costs July of the current year wate as follows: Enter all arnounts as positive numbers. a. Prepare the July manufacturing standard cost budget (direct labor, direct materials, and factory overhead) for GBC, assuming pianned production. Genie in a Bottie Company Manufacturing Cost Budget For the Month Ended July 31 b. Prepare a budget performance feport for manufacturing costs, showing the total cost variances for direct materials, digect labor; and factory overhead for July. Ente favorable variance as a negative number using a minus sign and on unfavorable variance as a positive number. c. The Company's actual costs were than budgeted. direct labor and direct material cost variances more than offset a stall Pactory overhead cost variance